Certain standard costs are related to closing the sale of a house. Sellers and buyers almost always split these closing costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying a home are associated with getting the loan. Since Bob Rutledge Mortgage is highly experienced with mortgages and closings, we often explain the details of closing costs.
Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. The closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always predict your costs to the penny. We field buyers' questions about closing costs every day at Bob Rutledge Mortgage, so please be sure to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Bob Rutledge Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Points — lower your interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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